What could you do with an extra $10,000? If you’re like a lot of people, you have a lot of answers to that question! Perhaps you could pay off some debt, get some bills caught up, or get important repairs taken care of.
The good news is that getting $10,000 isn’t as hard as it sounds. In fact, with a few creative money-making strategies, you could save that cash in less than a year!
It goes without saying that these money-making techniques have to be paired with frugal living if you want to save up $10,000. Start a loose change jar, find inexpensive ways to have fun, and watch your savings grow.
Let’s dive into exactly how you can earn several thousand dollars in the next few months.
Make $10,000 Freelancing
Are you asking yourself about “How to make money fast in my spare time?” The best way is to provide something of value that another person needs. Freelance work does precisely that. Instead of getting a full-time job with a set wage based on hours worked, you do independent work and charge per project.
One of the most popular ways to do that is to be a freelance writer. Companies need their blogs to be fresh, optimized for search engine optimization (SEO), and interesting to customers. They’ll pay good money to someone who can do that! Once you get a few clients, it won’t be hard to get a great side income rolling in.
Another option is to be a virtual assistant. You can help someone keep their work processes, phone calls, and other information in order without ever leaving your home. If you have great organizational skills and attention to detail, this is a great way to earn extra money.
If you’re not sure how to get started, you can create an account on Fiverr. You can also find companies on LinkedIn or pitch people on Facebook to find clients.
Freelance work can be very lucrative!
Make $10,000 With Retail Arbitrage
Another great way to earn extra income is to sell items online. Selling your own stuff is a place to start, but many people make thousands by intentionally buying things on clearance and reselling them for a higher price online.
This is known as retail arbitrage and can be a great money-making venture. It’s a way to sell retail goods without having to take on the expense and stress of setting up your own store.
Selling your goods on Amazon or eBay is most common. Amazon even has a seller app that tells you what’s in demand and what price you can sell an item for. This can let you know right away if you’re getting a good deal on clearance — before you even buy the item.
Stores like Walmart and Homegoods have large clearance sections you can take advantage of. Don’t be shy about checking out other stores as well. You never know when you’ll find something you can sell for a handsome profit.
Earn Interest on a High-Yield Savings Account
While you’re hustling to earn money, why not put the money you already have to work? A high-yield savings account will give you a lot better return than a regular non-earning bank account.
American Express has excellent options. Best of all, the interest compounds every day, so you’re earning interest today on yesterday’s interest. This is a great way to save money fast on a low income.
There’s no reason not to put your existing savings to work making more money. Every dollar counts!
Make Money with a Home Services Business
Are you handy with tools, or do you have a lot of knowledge about lawn care, cars, cleaning, or other home topics? If so, a home services business is a great way to make extra money to put toward your savings.
A lot of people are home in the evenings and weekends, so why not take advantage of those off-hours to earn extra money outside your regular job?
If you do take on a home services business, be sure to operate with the utmost integrity. Don’t take on jobs beyond your skill level, always charge a fair rate, and be sure you’re properly licensed and insured.
There are people all over the city you live in who need help with small jobs around the house — why not be the one to help? It’s a relief to them and extra cash for you.
Start & Monetize a YouTube Channel
If you love making videos, YouTube is an excellent avenue for making money. The first step is to create a channel and begin posting content. You won’t be able to monetize your account until you’ve reached a certain level of popularity, so step two is to grow your audience!
Start by telling everyone you know to follow your channel, comment and like your videos, and engage with you. Be sure you reply in kind as well, responding to comments and sharing your thoughts.
You’ll also want to be aware of how to use keywords as you create, title, and describe your videos. YouTube is known as the world’s second-largest search engine, so doing proper optimization can bring you a lot of additional viewers.
Create a professional look for your YouTube channel, and when you meet the requirements, it’s time to monetize. You need:
1,000 subscribers to your channel
4,000 watch hours in the last 12 months (and no, your views don’t count)
To follow YouTube’s rules and guidelines
An Adsense account
From there, you can join the YouTube Partner Program. It may take a few weeks to hear back about a decision, but once you’re approved you’ll get paid for ads watched during your videos.
Make sure you’re continuing to create great, original videos and grow your audience even after you’re accepted. That means more money for you and reduces the likelihood that you’ll drop below the Partner Program requirements.
Are You Ready To to Save $10,000 Fast!
As you can see, it does take some effort to earn extra cash. We never said it would be easy! However, if you take advantage of these ideas and put your talents to work, you can save up a lot of money in a short amount of time.
Don’t forget to put the money you earn into your high-yield savings account! Every dollar needs to keep working for you until you hit your goals. Remember, interest compounds daily.
For more great information about managing money and earning extra cash, check out our other blog posts today!
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